Comments Submitted to HUD on Proposed Rule

LeadingAge New York submitted comments to HUD last week on the proposed rule for Supportive Housing and Services for the Elderly and Persons With Disabilities, Service Coordinators in Multifamily Housing program and the Assisted Living Conversion program. The comments can be found here.

This proposed rule would establish the requirements and procedures for the use of new project rental assistance for supportive housing for persons with disabilities; the implementation of an enhanced project rental assistance contract; allowance of a set-aside for a number of units for elderly individuals with functional limitations or other category of elderly persons as defined in the Notice of Funding Availability; make significant changes for the prepayment of certain loans for supportive housing for the elderly; implement a new form of rental assistance called Senior Preservation Rental Assistance Contracts (SPRACs); modernize the capital advance for supportive housing for persons with disabilities; and provide grant assistance for applicants without sufficient capital to prepare a site for a funding competition.

A significant change in these regulations is the way senior housing will be financed in the future. While Section 202 PRACs provided both building capital and ongoing rental assistance, these proposed regulations envisions separate financing for building capital. Most often, the financing would be through the Low Income Housing Tax Credit program.

The rule also proposes to establish the regulations for the Service Coordinators in Multifamily Housing program and the Assisted Living Conversion program.

Contact: Ken Harris, kharris@leadingageny.org, 518-867-8835